RatesFreddie Mac PMMSWeekly

30-Year Fixed Mortgage Rate

What is 30-Year Fixed Mortgage Rate?

Average 30-year fixed-rate mortgage rate offered to prime U.S. borrowers, surveyed weekly by Freddie Mac. It is the headline borrowing rate for U.S. residential housing.

Why it matters

The 30Y mortgage rate is the dominant transmission channel from Fed policy to the real economy. It moves housing affordability, existing-home turnover, and consumer wealth perception more directly than any other rate.

How to read prints

When it rises

Mortgage rates rising; pressures housing turnover, builder margins, and refinancing.

When it falls

Mortgage rates falling; supports housing transactions and consumer wealth perception.

Frequently asked

How is the 30Y mortgage rate determined?⌄
Roughly: 10-year Treasury yield + MBS spread + lender margin. Historically MBS spreads run 150-200 bp; widening spreads (e.g., 2022-2023) push mortgage rates above what the 10Y alone would suggest.
What is the MBS spread and why does it move?⌄
The spread of mortgage-backed securities over Treasuries. It widens when Fed QT removes a major MBS buyer, when prepayment risk shifts, or when rate volatility (MOVE index) rises.
How does mortgage rate affect the broader economy?⌄
Housing is ~15-18% of GDP. A 1% move in the 30Y mortgage rate historically shifts existing-home sales by 8-12% over 6-12 months and affects ~$30T of household wealth via home equity.
What is the lock-in effect?⌄
When existing borrowers hold sub-4% mortgages and current rates are above 6-7%, they stay put rather than sell. This dries up existing-home supply and distorts price signals.

Track it on Market Ontology

Monitor 30-Year Fixed Mortgage Rate in real time on Rates & Curves, alongside regime classification, transmission mapping, and cross-asset context.

SourceFreddie Mac PMMS
FrequencyWeekly
CategoryRates
FRED SeriesMORTGAGE30US
Unit%
Related ModuleRates & Curves

Related indicators

10-Year TIPS Real Yield

U.S. Treasury

10-Year Treasury Yield

U.S. Treasury

2-Year Treasury Yield

U.S. Treasury

2s10s Yield Curve Spread

Calculated

Track 30-Year Fixed Mortgage Rate in real time

Cross-domain macro intelligence. Policy to prices. 7-day free trial.

Get Started

© 2026 Market Ontology. All rights reserved.